In Q3 2023, availability continued to rise year-over-year by 580 basis points to 26.6% in the Silicon Valley office market due to space givebacks from Meta and Roku, in addition to Google putting over 1.4 million square feet (msf) on the market for sublease. A bright note in Q3 2023 is that available sublease space has remained flat since last quarter at 7.6 MSF.
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